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The AUDUSD price is encountering strong resistance around $0.6800, resulting in a slight bearish bias influenced by stochastic indicators showing negativity. However, the market awaits a continuation of the primary bullish trend, which is structured within a bullish channel visible on the chart, targeting the next level at $0.6870.
The support from the EMA50 enhances the prospects of sustaining the bullish momentum, which remains valid unless the price breaks below $0.6728 and holds below this level.
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Today’s expected trading range is projected between support at $0.6730 and resistance at $0.6830.
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Trend Forecast: Bullish
